Kura Sushi USA Announces Fiscal Third Quarter 2025 Financial Results

Core Insights - Kura Sushi USA, Inc. reported financial results for the fiscal third quarter ended May 31, 2025, highlighting a total sales increase to $74.0 million from $63.1 million in the same quarter of 2024, despite a 2.1% decrease in comparable restaurant sales [5][10][11]. Financial Performance - Total sales reached $74.0 million, a 17.5% increase from $63.1 million in Q3 2024 [5][10]. - Comparable restaurant sales decreased by 2.1%, driven by a 2.9% decline in traffic and a 0.8% increase in price/mix [5][10]. - Net income was $0.6 million, or $0.05 per diluted share, compared to a net loss of $0.6 million, or $(0.05) per diluted share, in Q3 2024 [9][10]. - Adjusted net income was $0.6 million, or $0.05 per diluted share, compared to an adjusted net income of $4,000, or $0.00 per diluted share, in Q3 2024 [11][31]. - Restaurant-level operating profit was $13.5 million, representing 18.2% of sales, down from $12.6 million, or 20.0% of sales, in Q3 2024 [11][30]. - Adjusted EBITDA was $5.4 million, an increase from $4.5 million in Q3 2024 [11][33]. Cost Structure - Food and beverage costs as a percentage of sales decreased to 28.3% from 29.2% in Q3 2024, attributed to menu price increases and supply chain initiatives [6]. - Labor and related costs increased to 33.1% of sales from 32.6% in Q3 2024, primarily due to rising wage rates [6]. - Occupancy and related expenses rose to $5.5 million from $4.3 million in Q3 2024, mainly due to the opening of thirteen new restaurants [7]. - General and administrative expenses were $8.7 million, slightly down from $8.9 million in Q3 2024, with a decrease in percentage of sales to 11.8% from 14.0% [8]. Restaurant Development - The company opened three new restaurants during the fiscal third quarter of 2025, located in Scottsdale, Arizona; Lynnwood, Washington; and McKinney, Texas [12]. - Following the quarter, two additional restaurants were opened in The Woodlands, Texas, and Salt Lake City, Utah [12]. Fiscal Year 2025 Outlook - For the full fiscal year of 2025, the company anticipates total sales of approximately $281 million and plans to open 15 new restaurants, maintaining an annual unit growth rate above 20% [18].